The Binance conducted a survey this week to learn more about Brazilian customers and asked users whether they had declared their criptomoedas in income tax last year.
The survey, currently closed, was emailed to some customers on Thursday (28). Objective was to learn more about the users of the company’s services. To encourage participation, the broker created a campaign in which consultation participants could compete for a reward of 10 BUSD, approximately R$56.
In addition to questions about users’ habits, there were two more controversial ones on the form whose answers were yes or no. The first questioned if the client knew how to declare cryptocurrencies in the income tax, while the second asked if he had already filed his digital assets in the income tax in the last year.
It is worth remembering that the declaration of cryptocurrencies in the income tax is an obligation of the taxpayer. This year, the Internal Revenue Service clarified that the declaration of cryptocurrencies in the income tax is mandatory for individuals if the acquisition cost exceeds R$5,000.
As long as the disposals (sales) of cryptocurrencies do not exceed the R$35,000 monthly capital gain ceiling, the taxpayer will not need to pay tax on the investment.
Although it is the investor’s sole responsibility to declare their income tax transactions, exchanges operating in Brazil are required to follow RFB Normative Instruction No. 1888 and report monthly customer transactions to the Internal Revenue Service.
Although Binance is popular among Brazilian users, it is unclear whether reports to the Revenue are made or not.
In October last year, the company even opened a CNPJ in Brazil and confirmed at the time that it would make the report required by the Internal Revenue Service , but a few months later it went back and gave up on making the declaration.
In this way, it is up to the trader — the one whose acquisition exceeds R$ 30,000 — to inform the Federal Revenue Service every month, in addition to the annual income tax.
This Saturday morning (30), Binance’s public survey is no longer accepting responses, but a second consultation by the brokerage, which has been open since the beginning of the year, is still open to the Brazilian public.